DTN Early Word Opening Livestock 12/11 05:52
Cattle Futures Likely to Open Moderately Higher
Live and feeder contracts should open Tuesday with a firm undertone thanks
to cutout strength and cash premiums. On the other hand, lean hog futures could
begin on the defensive, checked by cautious fundamentals.
By John Harrington
DTN Livestock Analyst
Cattle: Steady-$2 HR Futures: 50-100 HR Live Equiv: $141.10 +0.54*
Hogs: Steady-$1 LR Futures: 50-100 LR Lean Equiv: $77.46 -0.98**
* based on formula estimating live cattle equivalent of gross packer revenue
** based on formula estimating lean hog equivalent of gross packer revenue
Don't look for much action in feedlot country Tuesday as bids and asking
prices remain poorly defined. The marketing window of 2018 is closing fast.
Many veteran feedlot managers know all too well it can be tough to find shackle
space in the last two weeks of December. Live and feeder futures should open
moderately higher, supported by cash premiums and appreciating carcass value.
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